Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
China Everbright Greentech Ltd. ( (HK:1257) ) has issued an update.
China Everbright Greentech plans to launch Phase 2 of its asset-backed securities program on the Shenzhen Stock Exchange, following regulatory approval of a RMB2 billion shelf offering and the earlier issuance of a first tranche of ABS to qualified institutional investors. The second tranche, to be managed by AXA SPDB Asset Management, will be backed by project company receivables and rights-maintenance fees similar to the first tranche structure.
For this second tranche, subsidiary Everbright Greentech Management Shenzhen will sell the underlying assets to AXA SPDB AM, acting for the Phase 2 program, for an expected cash consideration of about RMB700 million. The transaction qualifies as a major transaction under Hong Kong listing rules, requiring shareholder approval at an extraordinary general meeting, and the company will issue a detailed circular to shareholders with further terms of the ABS issuance and asset sale.
More about China Everbright Greentech Ltd.
China Everbright Greentech Limited is a Hong Kong-listed environmental services company focused on green energy and environmental protection projects in mainland China. Through its subsidiaries, it develops and operates projects that generate receivables and rights-maintenance fees, which the group increasingly uses as underlying assets for onshore securitisation in the PRC institutional market.
Average Trading Volume: 397,107
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.84B
For a thorough assessment of 1257 stock, go to TipRanks’ Stock Analysis page.